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State revenue higher than forecast for 2012 fiscal year

Guests

Jim Schowalter: Commissioner of Minnesota Management & Budget

According to the July economic update, the state ended the 2012 fiscal year with $336 million more in revenue than was forecast back in February, with higher than predicted income tax receipts being the main driver.

Though the next budget forecast won't come out until November, the projections of higher revenue could mean a break from some of the budget battles seen in recent years in the state.